American equities are braced for new leaps

12:59 13.07.2018

On Friday, American equities were about to proceed with their winning marathon, firmly making their way towards good weekly profits because market participants were geared up for bank earnings and temporarily neglected the everlasting trade conflict between America and China.

The revenues showed up after Thursday’s positive trading session, when the Nasdaq Composite Index went up by 1.4%, thus demonstrating its first greatest win since June 20. In addition to this, the Dow along with the S&P 500 concluded the trading marathon 0.9% up.

By the way, on Thursday, all three benchmarks seemed to be making their way towards firm weekly revenues. On Thursday, the S&P gained 1.4%, the Nasdaq added 1.8%, while the Dow jumped 1.9% for the week.

It has become known that Beijing and Washington are on the verge of resuming trade negotiations that could bring a long-awaited pact and stop this everlasting trade conflict.

Market participants focused on the second-quarter earnings season. Such key financial institutions as Citigroup Inc. C, Wells Fargo & Co. WFC and JPMorgan Chase & Co. JPM are expected to post their results that could potentially assist in setting the tone for the entire reporting season.

The equities of Johnson & Johnson JNJ headed south 2.2%.

AT&T Inc. T inched down approximately 1.6% after on Thursday the Department of Justice filed for an appeal of a ruling, which allows the telecoms major to have Time Warner Inc acquired.

As for Asian markets, they concluded generally up. The Shanghai Composite Index SHCOMP headed south nearly 0.23% because China’s imports rallied less than anticipated in June.